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<blockquote data-quote="GTNavyNuke" data-source="post: 170070" data-attributes="member: 322"><p>I've got a great idea: the Fed should sell some of their bonds (at a profit) and invest in stock indices. That will support the stock market and increase the wealth of the rich so they can spend more; who needs capitalism anyway? (tic; intense sarcasm through out) </p><p></p><p>That is only a slightly different step than what they have done already by buying bonds and then rolling them over when they mature. Effectively having "created" money.</p><p></p><p>I believe that the Founding Fathers set up the three branches of Government to serve as checks and balances on each other. There was never the intent for a quasi Governmental agency to be able to "create" money like the Fed has done. Plus it is awful policy for bureaucrats to "create" that kind of money without authorization. That's why we have budgets created by Congress and approved and executed by the President. These absurdly low interest rates prevent people from make any return on savings and were intended to force people to take more risk. That is going to bite us very badly (in my opinion) at some point. And I put the blame entirely on the entire Congress and Presidency (both parties) for allowing it to happen. </p><p></p><p>The solution is to have someone like Volker as Fed chairman and enough people on the Fed to support him. But the only politician who is saying that is Trump. Wow. I believe that the Fed is probably more important than the Supreme Court - certainly now with how the Fed is abusing their "power". The only person who might become a candidate I'd gladly support right now is Elizabeth Warren.</p></blockquote><p></p>
[QUOTE="GTNavyNuke, post: 170070, member: 322"] I've got a great idea: the Fed should sell some of their bonds (at a profit) and invest in stock indices. That will support the stock market and increase the wealth of the rich so they can spend more; who needs capitalism anyway? (tic; intense sarcasm through out) That is only a slightly different step than what they have done already by buying bonds and then rolling them over when they mature. Effectively having "created" money. I believe that the Founding Fathers set up the three branches of Government to serve as checks and balances on each other. There was never the intent for a quasi Governmental agency to be able to "create" money like the Fed has done. Plus it is awful policy for bureaucrats to "create" that kind of money without authorization. That's why we have budgets created by Congress and approved and executed by the President. These absurdly low interest rates prevent people from make any return on savings and were intended to force people to take more risk. That is going to bite us very badly (in my opinion) at some point. And I put the blame entirely on the entire Congress and Presidency (both parties) for allowing it to happen. The solution is to have someone like Volker as Fed chairman and enough people on the Fed to support him. But the only politician who is saying that is Trump. Wow. I believe that the Fed is probably more important than the Supreme Court - certainly now with how the Fed is abusing their "power". The only person who might become a candidate I'd gladly support right now is Elizabeth Warren. [/QUOTE]
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